Within C&W's Capital Markets division, what is the major difference between EDSF and REIB? Can some shed some light on this? I have spoken with people who do EDSF and have a very good idea of what they do. However, I am not sure what the fundamental difference is between the functions of the two groups.
Wondering if anyone could share some insight. Thanks.
To be honest I've never heard Cushman's group called this before until your post and me googling it. Sounds like they are trying to copy CBRE who calls their mortgage banking group "Debt and Structured Finance" as well. Has Cushman always done this and I just missed it or is this a new rebranding thing?
To answer your question though "equity, debt and structured finance" sounds like exactly what CBRE, JLL and Eastdil do: mortgage banking and JV equity placement. The whole what is REIB vs mortgage banking is getting over done. If you got a job with "Cushman EDSF" it would be a great job. I wouldn't give two shitz if someone said I wasn't a real "investment banker" and speaking of which I would also be shocked if Cushman has a "real REIB" group like CBRE does.
Hey IRRelevant, thanks for commenting. Yes, EDSF is essentially mortgage (and some other forms of debt) underwriting, and then like you said, a minority of the deals are for equity placements. What are exit opps from a group like this?
I think you could easily go to a lender (including what I would consider to be "sexier" lenders like CMBS and debt funds). You could easily do Asset Management and less easily but still very possible to move to acquisitions.
I will say those that while Cushman does great in investment sales, when it comes to debt placement I feel like they are a little below Eastdil/HFF/CBRE/JLL but honestly who cares.
What market(s) are you looking at just curious?
CW here. You can move to CMBS origination, REPEs, banking, REITs. You will get some really solid skills and it is a great company to work for, benefits etc.
Was wondering if anyone could provide anymore information on what the corporate finance and Investment Banking Group does? Is it all financing and advisory that doesn't involve arranging mortgages? The website is very unclear about the differences between the two groups.
I have never heard of this either. Could this be some new org structure after the DTZ/CW merger?
There's been similar discussion about this in the past..... Equity/Debt/Structured Finance is not what most people here think of when they think of traditional "REIB". Equity/Debt/Structured Finance is a mortgage banking platform. Meaning, typically these types of groups (at firms like CBRE, Cushman, JLL, HFF, Ackman Ziff etc.) place debt and raise equity/put together JVs primarily for single assets and small/mid-size portfolios.
Suffice to say...
Equity/Debt/Structured Finance is asset level advisory and traditional REIB is entity level advisory (think private placements, M&A, restructuring etc.)
Broadly speaking both are great routes and you can get great exposure to real estate transactions it just depends on the shop, market, and team. Regardless of the path you choose find a place that gets good deal flow so you can learn as much as possible. Don't get too caught up on the names of these groups--the "REIB" term is getting throw out too often and being played out to make it sound sexier to clientele.
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